Question 1

After shopping around, Janine bought a top-of-the-line Vitamix, but when she got home she was worried that she spent too much and should have bought a less expensive juicer. Janine was experiencing post-purchase dissonance.

Accepted Answer

Post-purchase dissonance refers to the feeling of regret or doubt that can occur after making a significant purchase, often due to a fear of having made the wrong choice or paid too much for the product. Janine's situation fits this definition, as she is second-guessing her decision to buy a high-end blender and wondering if a cheaper juicer might have been a better choice.

Question 2

________ are all marketing activities that affect the consumer decision process.

Accepted Answer

The value proposition, distribution, and marketing communications are all different areas of marketing that can influence a consumer's decision-making process. The value proposition focuses on the unique benefits and value that a product or service can offer to the consumer, while distribution ensures that the product or service is available and accessible to the consumer. Marketing communications, including advertising and branding, also play a crucial role in shaping consumer perceptions and preferences.

Question 3

The process of business purchasing online is known as the e-chain.

Accepted Answer

The process of business purchasing online is known as e-procurement or e-purchasing. The term "e-chain" is not commonly used in this context.

Question 4

A modified rebuy may occur when a buyer is familiar with the existing product and supplier but may be looking for additional information. Perhaps new competitors or products have entered the market or the current supplier is not meeting expectations.

Accepted Answer

This statement accurately describes a modified rebuy situation.

Question 5

A straight rebuy is a routine purchase that is often given to a preferred supplier.

Accepted Answer

A straight rebuy is a repetitive and routine purchase where the buyer has already decided on the preferred supplier to buy from.

Question 6

Internal forces such as ________ affect consumer choices.

Accepted Answer

Internal forces that affect consumer choices include age and attitude, as they are intrinsic to the individual and influence personal preferences and decision-making processes.

Question 7

Initiators are any individuals, both inside and outside the organization, with relevant expertise in a particular area that is used by the buying center in making the final decision.

Accepted Answer

Initiators are individuals who first suggest buying a particular product or service, but their role is not specifically about having relevant expertise or directly influencing the final decision in the buying process.

Question 8

Organizations have resorted to various e-procurement methods, such as setting up direct links to approved suppliers to make the business purchase easier and move it closer to front-line decision makers.

Accepted Answer

This statement is true. Many organizations have adopted e-procurement methods such as setting up direct links to approved suppliers to simplify the business purchase process and bring it closer to front-line decision makers.

Question 9

OEM customers purchase in large quantities to support their own product demand.

Accepted Answer

OEM customers (Original Equipment Manufacturer) typically purchase components or products in large quantities so that they can support their own production or product demand.

Question 10

When Kobe decided it was time for a new car, he determined he wanted a Japanese-made four-door sedan. This represents Kobe's complete set.

Accepted Answer

Kobe's decision represents his preferences or criteria for a new car, not his complete set of options.

Question 11

The people in a company who block access to key personnel in the buying process are called goalkeepers.

Accepted Answer

The correct term for people in a company who block access to key personnel in the buying process is "gatekeepers."

Question 12

Mary pretends that she has a three-bedroom house with a minivan in the driveway, even though she lives in an apartment and takes the train to work. The three-bedroom house reflects Mary's real state.

Accepted Answer

Mary is pretending and lying about her living situation, so the three-bedroom house and minivan do not reflect her real state.

Question 13

The business market purchase decision process is triggered when someone inside or outside the company identifies a need.

Accepted Answer

The business market purchase decision process begins when someone in or outside the company recognizes the need for a product or service. This initiates a series of steps, including researching potential solutions, evaluating vendors, negotiating contracts, and ultimately making a purchase decision.

Question 14

Business markets tend to concentrate in certain locations in the United States as a result of suppliers wanting to be located near their buyers.

Accepted Answer

This statement is true. Business markets often cluster in certain locations in order to be in close proximity to their buyers and suppliers, which can help to reduce transportation costs, increase efficiency, and facilitate communication and collaboration. This phenomenon is commonly known as agglomeration, and examples can be found in many industries, such as technology firms in Silicon Valley, financial institutions in Manhattan, and automobile manufacturers in Detroit.

Question 15

Mike and Judy find out they are going to have a baby and realize their Infiniti G coupe has to be replaced with a more practical vehicle. They engage in a thorough information search by reviewing car magazines, soliciting opinions from friends and family, conducting online research, reading consumer reports, and test-driving a number of new cars and SUVs before making a final purchase decision. This is an example of extensive information search.

Accepted Answer

This is an example of extensive information search because the couple engaged in multiple information-gathering activities, such as reviewing car magazines, soliciting opinions from friends and family, conducting online research, reading consumer reports, and test-driving a number of new cars and SUVs, before making a final purchase decision.

Question 16

Keeping your hands in your pockets and looking at the clock are examples of positive nonverbal communication.

Accepted Answer

Keeping your hands in your pockets can be seen as negative or closed-off body language, while looking at the clock can be seen as rude or disinterested body language. Therefore, these are not examples of positive nonverbal communication.

Question 17

Graduating from college, getting married, and having a child all transform an individual's buying habits and are referred to as the ________.

Accepted Answer

The term referring to graduating from college, getting married, and having a child as transformative events that impact an individual's buying habits is the family life cycle. This cycle includes various stages such as the newly married couple stage, the full nest stage, and the empty nest stage.

Question 18

The NAICS defines 300 major business sectors that cover all of North America.

Accepted Answer

The North American Industry Classification System (NAICS) defines fewer than 300 sectors; it actually organizes the economy into 20 sectors.

Question 19

The sales proposal gives the company an opportunity to showcase its unique products, service, and pricing.

Accepted Answer

A sales proposal is a document that showcases a company's products, services, and pricing to potential customers. Its purpose is to persuade the customer that the company's offerings are the best solution for their needs. Therefore, the statement "the sales proposal gives the company an opportunity to showcase its unique products, service, and pricing" is true.

Question 20

An individual watching a reality show will react differently whether watching the show alone or at a party with friends.

Accepted Answer

It is likely that an individual's reaction to a reality show will be affected by the social context in which they are watching it. When watching a show alone, the individual may have a more personal and introspective reaction, while watching with friends may involve more group discussion and shared commentary. Additionally, the individual may be influenced by the social dynamics of the group and may modify their reactions accordingly.

Quiz 6: Understand Consumer and Business Markets